PNGS Reva Diamond Jewellery IPO
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PNGS Reva Diamond Jewellery IPO details
Schedule of PNGS Reva Diamond Jewellery
| Issue open date | 24 Feb 2026 |
| Issue close date | 26 Feb 2026 |
| UPI mandate deadline | 26 Feb 2026 (5 PM) |
| Allotment finalization | 27 Feb 2026 |
| Refund initiation | 02 Mar 2026 |
| Share credit | 02 Mar 2026 |
| Listing date | 04 Mar 2026 |
| Mandate end date | 12 Mar 2026 |
| Lock-in end date for anchor investors (50%) | 29 Mar 2026 |
| Lock-in end date for anchor investors (remaining) | 28 May 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About PNGS Reva Diamond Jewellery
PNGS Reva Diamond Jewellery Limited was originally established as a partnership firm, Gadgil Metals and Commodities, in July 2004. It was subsequently converted into a public limited company on December 20, 2024. The Company is promoted by P. N. Gadgil & Sons Limited, along with Govind Vishwanath Gadgil and Renu Govind Gadgil. It operates as a retail-focused jewellery brand under its flagship label, “Reva.” The Company is engaged in the sale of diamond jewellery studded in gold and platinum, as well as plain platinum jewellery. Its offerings are design-led and cater to a wide range of customer preferences and price points. The retail network includes a combination of company-owned and franchise-led stores across multiple cities, primarily in Maharashtra, Gujarat and Karnataka. The business model leverages shop-in-shop formats within the retail ecosystem of its Corporate Promoter, enabling operational efficiencies and access to established customer footfall. The Company’s key strengths include strong promoter legacy, brand recognition, a focused diamond jewellery strategy, and an asset-light expansion approach supported by retail synergies.
Financials of PNGS Reva Diamond Jewellery
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 380 |
| Fresh Issue – Proceeds go to the company | 380 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding expenditure towards setting-up of 15 New Stores | 286.56 (75.41%) |
| Marketing & promotional expenses for new store launches | 35.4 (9.32%) |
| General corporate purposes | 58.04 (15.27%) |
Strengths
- Backed by a strong promoter legacy of P. N. Gadgil & Sons Limited.
- Focused retail model specialising in diamond jewellery under the “Reva” brand.
- Asset-light shop-in-shop format leveraging promoter infrastructure.
- Presence across multiple cities with an expanding retail footprint
- Design-led product portfolio catering to a diverse range of price segments.
Risks
- Heavy revenue dependence on the Maharashtra market.
- Brand reputation risk linked to Corporate Promoter.
- Rising competition from lab-grown and synthetic diamonds.
- High reliance on top suppliers for inventory sourcing.
- Execution risk in scaling and operating new stores successfully.